Member Info for meoryou

Clued

Maybe you have hit on the next big green thing.

All the greenies can leave their bodies to global energy.

I was under the impression that after last sale of Hln shares, there were to be no more sales by either party for 60 days, which is still a week away?

Https://www.bloomberg.com/news/articles/2023-07-06/bp-backs-new-fuel-for-ships-made-using-everyday-garbage

Price of $800 million mentioned, so that could be another slice of debt paid off.

Time will tell

Special thanks must go to the US for enabling BP buybacks to buyback a total of 8,146,076 of its ordinary shares a Volume weighted average price paid per Share (pence): Of. 463.7405.

Thanks to US for dropping BP sp even as oil price went up,meaning over 8 million shares bought and still a 10 p drop in sp.

Persistent claims of chronic underinvestment in the global oil and gas industry are overblown, Rystad Energy research and analysis shows. Investments in the upstream sector have tumbled since spending peaked at $887 billion in 2014, with about $580 billion expected to be invested this year. The number of completed wells has also fallen, from 88,000 in 2014 to 59,000 this year.

As a result, many market participants predict that this trend will continue and lead to chronic underinvestment and an oil supply shortage in the coming years. However, our modeling and analysis tell a different story. Lower unit prices, efficiency gains, productivity gains, and evolving portfolio strategies have significantly increased the upstream industry’s efficiency. In other words: the industry can do the same as before, but at a much lower cost. Although investments have shrunk, activity and production remain healthy and on par with the levels seen from 2010 to 2014.

“Contrary to popular opinion, the world is investing appropriate amounts of money in fossil fuel production to satisfy demand. Cost savings mean operators can produce the same amount of oil at a lower cost, and we don’t foresee an oil supply crisis due to underinvestment on the immediate horizon,” says Espen Erlingsen, head of upstream research at Rystad Energy.

Https://www.bp.com/en/global/corporate/energy-economics/energy-outlook/how-energy-is-used.html

DUBAI, July 4 (Reuters) - Egypt has begun a $1.8 billion programme to drill natural gas exploration wells in the Mediterranean Sea and Nile Delta, petroleum minister Tarek El Molla told UAE state news agency WAM on Tuesday.

The programme is in cooperation with Eni, Chevron , ExxonMobil, Shell and BP. The aim is to drill 35 exploration wells within two years, 21 in the current 2023/2024 financial year and 14 in the next year, El Molla told WAM on the sidelines of an OPEC seminar in Vienna. (Reporting by Nayera Abdallah Editing by David Goodman)

BP p.l.c. (the "Company") announces that on 4 July 2023 it has purchased, in accordance with the authority granted by shareholders at the 2023 Annual General Meeting of the Company, a total of 6,905,703 of its ordinary shares of $0.25 each

Starting to feel like the tactical plan for buybacks this quarter is very different from previously.

Wonder if previously brief was to defend sp, but this time they have been given a brief to buy as many shares as possibly with the buyback cash ( and maybe some incentive to do so).

Just what’s been going through my head for a couple of days.

Clued

In some ways leaving the AltNets to build out some of the rural areas could totally play into BT’s hand.

I’m sure as some fail Bt will be the supplier expected to take over many of them and will probably get these networks for less than the build cost.

A bit like how you can buy a house cheaper than you can build one (In certain areas of the country)

Or to put it another way

Exactly as predicted by Charlie

BP p.l.c. (the "Company") announces that on 3 July 2023 it has purchased, in accordance with the authority granted by shareholders at the 2023 Annual General Meeting of the Company, a total of 8,512,581 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the buyback programme announced on 2 May 2023 (the "Programme") and as detailed below

Highest price paid per Share (pence): 474.45

Lowest price paid per Share (pence): 464.00

Volume weighted average price paid per Share (pence): 469.5884

I think buyback volume has a part to play.

10 million shares bought each day is obviously very supportive of sp.

3 million shares bought each day is much more leaving sp to market forces.

Without buybacks it is possible that sp could have crashed further as Pension funds and Green investors left in droves.

Most of us agree that from historical pricing the sp would be higher for these levels of profit,so that probably means buybacks are still a bargain at these prices.

The buybacks are making the div ever more affordable.

That must be good,( and a big help as div gets slowly increased)

Think the time span is a couple of years ,but would expect less US oil to lead to higher prices,which hopefully translate to higher BP sp.

Https://blog.gorozen.com/blog/the-permian-basin

Morning Spights

Last quarter was another good one.

Results will be at least okay.

Let’s hope Looney pulls a rabbit from the hat, with some positive surprises.

Couple of thoughts

Zacs point is well made with good data.

However there is a chance that BP respond to the Shell div increase with a rise of their own next results time which is exactly a month away 1 st August.

There is also a chance that buybacks will once again increase next quarter.

If no recession in 2 nd half of year, oil may be tight and oil price a bit higher.

These could move sp,higher

If however there is a recession we may all be using hindsight to wish we had sold.

You know yourself when the time is right, and you feel that price is close enough to move on.

If in doubt keep half.

Then you are only half wrong

Https://www.bp.com/en/global/corporate/news-and-insights/press-releases/reliance-and-bp-commence-production-from-third-deepwater-field-in-indias-kg-d6-block.html

Https://oilprice.com/Energy/Energy-General/Oil-Prices-Set-For-A-Monthly-Gain-But-Yet-Another-Quarterly-Loss.html

Last day of 2 nd quarter, so think oil price over the quarter could have been a lot worse.

Https://www.h2-view.com/story/bp-and-aberdeen-city-councils-hydrogen-hub-receives-planning-permission/